First Heartland Consultants Inc. Sells 3,638 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

First Heartland Consultants Inc. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 16.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,088 shares of the oil and gas producer’s stock after selling 3,638 shares during the period. First Heartland Consultants Inc.’s holdings in Enterprise Products Partners were worth $618,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AM Investment Strategies LLC boosted its position in Enterprise Products Partners by 2.2% in the 1st quarter. AM Investment Strategies LLC now owns 115,604 shares of the oil and gas producer’s stock valued at $3,947,000 after buying an additional 2,502 shares during the period. Pacer Advisors Inc. raised its stake in shares of Enterprise Products Partners by 17.3% during the first quarter. Pacer Advisors Inc. now owns 121,597 shares of the oil and gas producer’s stock valued at $4,151,000 after acquiring an additional 17,942 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Enterprise Products Partners by 365.8% in the first quarter. Assetmark Inc. now owns 6,312 shares of the oil and gas producer’s stock valued at $215,000 after purchasing an additional 4,957 shares during the period. Navellier & Associates Inc. bought a new position in Enterprise Products Partners in the first quarter worth approximately $337,000. Finally, USAdvisors Wealth Management LLC purchased a new position in Enterprise Products Partners during the 1st quarter worth $250,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.7%

NYSE EPD opened at $31.56 on Friday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a 50 day moving average price of $31.45 and a 200 day moving average price of $32.09. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The firm has a market cap of $68.46 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 6.91%. The ex-dividend date is Thursday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.65%.

Analysts Set New Price Targets

EPD has been the subject of several research reports. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Scotiabank raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Citigroup reduced their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $36.36.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.